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May 13, 2020 Petróleo Brasileiro S.A. – Petrobras, regarding the press releases disclosed on March 18, 2019 and September 11, 2019, which announced the approval of Production Individualization Agreements (AIP) of the Lula, Atapu and Sépia joint reservoirs, in Rio de Janeiro, informs that it executedm Expenses and Volume Equalization Agreements (AEGV) with the respective... Continue Reading →
Bureau Veritas (BV), a provider of testing, inspection, and certification (TIC) services, has formalized guidelines and a classification notation for floating, production, storage and offloading vessels (FPSOs) and floating production units (FPUs) designed for operation in Brazil’s deep waters. BV said on Thursday that the new class notation IVBS-BRA was an independent verification approach that... Continue Reading →
TGS saw profits slashed in the first quarter due to impairments and lower revenue amid challenging seismic market conditions. Norwegian seismic player reported net loss for the first quarter 2020 of $56 million, against $4 million profit same time last year. Continue reading
Yard workforce employed by Singapore’s offshore builder Sembcorp Marine has been reduced from 20,000 to only 850 workers following movement restriction measures implemented due to the coronavirus pandemic. Sembcorp Marine has been adversely affected by the global spread of the COVID-19 pandemic as lockdown measures have severely disrupted transportation, supply chains, manpower access and plant... Continue Reading →
UK-based oil and gas operator Premier Oil has said it has suspended the Sea Lion-1 oil project offshore the Falkland Islands. The company said the $1.8 billion offshore oil project would be suspended to minimize ongoing spend in light of the current market conditions. Continue reading
U.S. Energy Information Administration (EIA) on Tuesday noted the Brent oil price remained low despite the recent OPEC+ deal, but added it expected the prices to average $48 a barrel next year. It also warned that the forecast was subject to an increased level of uncertainty due to the COVID-19 situation. EIA reminded that reduced... Continue Reading →
Petrobras has delayed the submission of binding offers for an oilfield cluster known as Polo Garoupa for the fourth time, two sources with knowledge of the matter told Reuters, as investor appetite in Brazil's offshore oil sector rapidly dries up. With annual production of 19,600 barrels of oil equivalent per day according to bidding documents... Continue Reading →
May 11, 2020 The consortium Kerui Método sent a letter to its suppliers of the works of the Natural Gas Processing Unit (NGPU) at Comperj, saying that the Coronavirus Pandemic was hindering their cash flow and compromising payments. This letter was sent at the request of Petrobras itself, by the manager responsible, who was already... Continue Reading →
May 12, 2020 PetroRio is eyeing the participation in the sale of Petrobras in the Manati field, a shallow water concession in the Camamu Basin whose teaser was published by the state-owned company last week. “We know the field well, so we are looking at the asset. There is the possibility of different projects in... Continue Reading →
May 12, 2020 Shell moves forward with campaign in the area of production sharing in the Santos Basin pre-salt Shell started drilling its first well in Saturno, the Santos pre-salt area, which was acquired in the 5th Production Sharing Round in 2018. Well 1-SHEL-33-RJS, called Saturno 1, was drilled in a depth of 2.069 thousand... Continue Reading →
